I’ve been tracking my trades around major announcements like Fed decisions and employment reports, and I’ve noticed spreads can widen pretty dramatically on both AXI and Pepperstone. But I’m not sure if the widening is actually different between them, or if I’m just noticing it more because I’m paranoid about slippage.
The timing is interesting too—sometimes spreads seem to spike before the news actually drops, sometimes after. And I’m wondering if one broker handles this behavior better than the other, or if they’re both just moving with the market.
I’ve seen some people mention that rebates help offset the cost during these volatile periods, but I’m skeptical about how much they actually help when spreads are jumping around.
Have you noticed a real difference in how AXI and Pepperstone behave when major news events happen? Is one noticeably more stable, or are they pretty much the same?
Good observation about tracking this. I started doing the same thing after getting caught by surprise a few times.
From my real trading data, AXI’s spreads tend to stay more stable during news. I’ve seen EUR/USD on AXI stay around 1.2 to 1.5 pips during Fed announcements. Pepperstone on the same pairs sometimes jumps to 2.0 to 2.5 pips during the actual release.
But here’s the thing: you also need to check if you’re actually getting filled at those quoted prices. I’ve had better execution on AXI during spikes, meaning fewer requotes and actual fills closer to the quoted spread.
Rebates help, but they don’t fix the core issue. A 0.5 pip rebate doesn’t matter much if the spread just widened by 1 full pip. My strategy now is simple: I don’t trade during the actual release window. I wait 5-10 minutes until spreads normalize. That beats trying to optimize for a broker during chaos.
You’re asking the right question. Most traders ignore this until they get burned.
Here are the facts from my testing and client feedback: AXI has quoted tighter spreads during news events, and they honor those quotes more consistently. Pepperstone’s spreads tend to widen more aggressively, and you’re more likely to see slippage versus the quoted spread.
Rebates don’t offset this. A 0.3 pip rebate on AXI with a 1.2 pip spread during news costs you less than a 1.8 pip spread on Pepperstone even if you get a 0.5 pip rebate.
My recommendation: if you’re trading during news events, test both brokers with small positions on the same announcement. Track your actual entry price versus the quoted price at that moment. That data will tell you more than any forum discussion.
If you want to avoid the volatility entirely, just don’t trade during major releases. Your edge as a trader probably doesn’t depend on trading at that exact moment anyway.
I noticed spreads definitely widen on both but AXI seemed slightly steadier during the last Fed meeting.
I tracked this for a few weeks and found AXI’s spreads don’t jump around as much. The difference isn’t huge, but it’s noticeable if you’re watching closely.
What I do now is avoid trading during the actual announcement window. I’ll wait until the immediate spike settles and spreads normalize. That’s simpler than chasing the best spreads during chaos. Both brokers execute fine once things calm down.
Your rebates will do more good on regular trading days than trying to optimize during volatile events.
Don’t trade during announcements. Not worth it.